Pound Firms Against Majors
(RTTNews) - The pound advanced against its most major counterparts in the New York session on Monday, as European leaders meet in Paris for talks on Ukraine and to ramp up security in the region.
Amid rising tensions between the U.S. and Europe with regard to the situation in Ukraine, European leaders are holding an emergency meeting today. The move follows an announcement from Trump administration that it was opening talks with Russia on ending the war without a European presence.
The meeting has been convened after the Trump administration pledged to mediate a peace deal.
Investors are also continuing to asses the potential impact of the Trump administration's trade and economic policies.
The pound rose to 1.2620 against the greenback and 1.1368 against the franc, from an early low of 1.2577 and a 4-day low of 1.1306, respectively. The next possible resistance for the currency is seen around 1.28 against the greenback and 1.15 against the franc.
The pound touched 0.8309 against the euro, setting a 1-week high. If the currency rises further, it is likely to find resistance around the 0.82 region.
In contrast, the pound declined to a 5-day low of 190.63 against the yen. The currency is likely to face support around the 188.00 level.
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